There’s no question that selling your home using estate agents is time-consuming and stressful. For this reason, many homeowners are choosing to sell their homes privately. However, if you’re thinking about selling your home in this manner, there are some things to consider.
Selling your home privately means putting your property on the market without an estate agent. This method is a great way to avoid estate agency fees and take more money away from the sale. So, we’ve created this guide to help you learn the steps involved in selling your home yourself without an estate agent.
What Does Selling My Home Privately Involve?
Selling your home without an estate agent can save you money; however, it will take more time to sell your property in this manner. It’s necessary to do everything yourself, including arranging advertising, consulting with buyers, arranging viewings, and so much more. These tasks are usually done by estate agents, and taking these jobs on yourself won’t be easy.
However, if you’re determined to sell your home privately, it is possible to manage the home sale successfully. Use our guide (below) to learn the step-by-step process of selling your home privately.
How to Sell Your Home Without an Estate Agent
1. Make Sure Your Property is Fit to Sell
What do we mean? Consider the viewings necessary for the sales process. A potential buyer’s first impression of your home could determine whether they buy it or not. Most buyers are looking for a property that doesn’t require much work. So, if your home has problems, fixing them before you sell can mean the property sells faster.
Here are some things to consider:
Maximise curb appeal: while the interior may be in good shape, the exterior may need some work. Take a look at your home as if you’re getting ready to buy it. What needs to be done to make your home more appealing? Do you need to get the grass mowed or work on the garden? Do the front door, and the trim need to be painted?
Clean things up: is there clutter inside and outside your home? If so, now is the time to clean it all out. Clear out every room and yard to make your home more attractive to potential buyers.
Neutral décor: you may want to consider redecorating your home in neutral colours and limit the number of personal items on view in your home. Doing this may seem hard; however, the goal is to present an interior that’s more like a “blank slate.” This allows the buyer to see themselves in the home, which can increase sales.
2. Set a Realistic Asking Price
When you’re selling your home without an estate agent, having a fair asking price is imperative. You may not want to ask an estate agent; however, there are companies that offer house valuations for free. You may also want to get 2-3 estate agents to value your property. These are great ways to ensure you offer a realistic asking price.
There are several factors that go into determining an asking price for your home:
- The age of the home
- Number of bedrooms
- Parking spaces available
- Location & proximity to amenities
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3. Advertise Your Property Properly
Now that you have the asking price and ensure your home is in good shape, now you’re ready to advertise. You can do this by taking high-resolution pictures of your home. Doing so on a sunny day ensures there’s plenty of natural light to set off darker rooms and make them look larger.
Where should you list your home? There are several options, including listing the property in the local newspaper, on community noticeboards, on social media, and via online property portals.
4. Host Friendly, Informative Viewings
Next, you’re ready to show your home to potential buyers. The way you show your home can have an effect on their impression of your home and whether they decide to buy it or not. Before the first viewing, decide on a route for the tour and give each room its own purpose and more.
When you’re selling the home yourself, stay friendly and have a professional attitude. Be sure not to rush and allow potential homebuyers to experience the space. Show off your home’s best features.
5. Don’t Be Afraid to Negotiate
When selling your own home, it’s up to you to negotiate with the buyer. As long as you determine a fair asking price, you can stand your ground during negotiations; however, it’s also essential to determine a minimum selling price you’re willing to accept.
If you decide to turn down an offer, it’s important to do this politely. Keeping a good relationship with the buyers may make them more likely to make another offer.
When you get the offer, you’d like to accept, do it verbally first and follow up with a confirmation via email or post. The sale is not legal until the exchange of contracts. However, if you’ve accepted the offer in writing, this makes the conveyancing process.
Next, you’ll need to instruct a solicitor or conveyancer to take care of the legal documentation. The buyer may instruct their own surveyor, and they may try to renegotiate the price. This step can take between a few weeks to several months.
There is an Alternative
Rather than dealing with all these tasks alone, you may want to consider selling your home with an online estate agent. These people handle the sales process on your behalf.
Summing It Up
While selling your home with an estate agent can be stressful when you choose to avoid the estate agent, you can save money by selling it privately.
However, there’s a faster way that involves fewer hassles when selling your home. That’s choosing the online estate agent. They can save you money, sell your home faster, give me the mail, and sell with a cash home-buying company! If you’re looking for a truly quick sale of your property then consider a cash house buyer like SmoothSale. We buy any house in any condition, and we can complete a purchase within 7 days. The best part? Our service is completely free, we even cover your legal expenses. Why not give us a call today on 0800 368 8952 and find out more?
Is it legal to sell my house privately online?
Yes, selling your house privately online is legal. However, it’s essential to follow local regulations and disclose all necessary information about the property.
Do I need a lawyer to sell my house privately online?
While not mandatory, it’s advisable to consult with a real estate attorney to ensure all legal aspects of the sale are covered, such as contracts and disclosures.
How do I determine the right selling price for my property?
Research the local real estate market, consider recent property sales in your area, and consult with a professional appraiser to determine the optimal selling price.
Are there any hidden costs when selling my house privately online?
Hidden costs may include marketing expenses, home inspection fees, and legal fees. It’s essential to budget for these in your selling plan.
How do I handle negotiations with potential buyers?
Be prepared to negotiate and be open to offers. It’s advisable to consult with a real estate attorney to ensure the process is legally sound.
What is the timeframe for selling a house privately online?
The timeframe varies depending on market conditions, location, and property type. On average, it may take a few weeks to several months to sell a property privately online.